Core Projects plans 30 K-12 schools over next 3 yrs
Core Projects has planned a foray into the school management business. It is expected to invest Rs 150 crore for setting up schools, which is estimated to grow at 20% CAGR.
The school management business, better known as K-12, is the fastest growing segment in the country.
Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » |
In an interview with CNBC-TV18, Maya Sinha, Director, Core Projects & Technologies spoke on the revenue prospects for the company.
Below is a verbatim transcript. Also watch the accompanying video.
Q: If I remember right when we last spoke, Core Projects had announced that they are going to enter the school management business in a big way. What is the timetable, what has been achieved so far and what do you see being achieved in FY11 in terms of setting up schools?
A: Core Projects has decided to enter the K-12 segment in a big way. We are planning to set up 30 schools in the segment over the next three years. These 30 schools are divided into three subsets. The first subset would be K-12 schools targeting tier I cities, targeting the IB school population. For this we are planning international collaborations.
Core Projects is one of those companies in the education field which is an Indian MNC and has started operations abroad much before they started operations in India. So we hope to leverage this advantage and have tie-ups with certain international well-known schools for this segment.
The second segment would concentrate on tier II and tier III cities and we would be looking at setting up traditional K12 schools in this segment.
The exciting segment is where we are planning 10 schools which would be academic as well as sports. So these are the integrated schools where
